LegalFix
Sign In

§ 123.301 - When would my business not be eligible to apply for an economic injury disaster loan?

Copy with citation
Copy as parenthetical citation

Your business is not eligible for an economic disaster loan if you (or any principal of the business) fit into any of the categories in §§ 123.101 and 123.201, or if your business is:

Engaged in lending, multi-level sales distribution, speculation, or investment (except for real estate investment with property held for rental when the disaster occurred);

A non-profit or charitable concern, other than a private non-profit organization;

A consumer or marketing cooperative;

Not a small business concern; or

Deriving more than one-third of gross annual revenue from legal gambling activities;

A loan packager which earns more than one-third of its gross annual revenue from packaging SBA loans;

Principally engaged in teaching, instructing, counseling, or indoctrinating religion or religious beliefs, whether in a religious or secular setting; or

Primarily engaged in political or lobbying activities.

Previous Section
§ 123.300 - Is my business eligible to apply for an economic injury disaster loan?
Next Section
§ 123.302 - What is the interest rate on an economic injury disaster loan?